National Bank Financial Weighs in on Algonquin Power & Utilities Corp.’s FY2024 Earnings (TSE:AQN)

Posted by on Jul 13th, 2023

Algonquin Power & Utilities Corp. (TSE:AQN – Free Report) – Equities research analysts at National Bank Financial raised their FY2024 earnings estimates for shares of Algonquin Power & Utilities in a report issued on Sunday, July 9th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings per share of $0.80 for the year, up from their prior estimate of $0.79. The consensus estimate for Algonquin Power & Utilities’ current full-year earnings is $0.79 per share.

Separately, JPMorgan Chase & Co. lifted their target price on shares of Algonquin Power & Utilities from C$11.00 to C$12.00 in a report on Tuesday, April 18th.

Algonquin Power & Utilities Price Performance

Shares of TSE:AQN opened at C$10.50 on Wednesday. Algonquin Power & Utilities has a 12 month low of C$8.70 and a 12 month high of C$18.79. The company has a debt-to-equity ratio of 107.42, a current ratio of 0.75 and a quick ratio of 0.37. The firm has a market capitalization of C$7.23 billion, a P/E ratio of -116.67, a P/E/G ratio of 1.07 and a beta of 0.25. The company’s fifty day moving average price is C$11.27 and its 200 day moving average price is C$10.70.

Algonquin Power & Utilities (TSE:AQN – Get Free Report) last announced its quarterly earnings data on Thursday, May 11th. The company reported C$0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.23. Algonquin Power & Utilities had a negative net margin of 1.17% and a negative return on equity of 1.48%. The business had revenue of C$1.05 billion for the quarter, compared to analyst estimates of C$1.04 billion.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.292 per share. The ex-dividend date is Thursday, June 29th. This represents a $1.17 annualized dividend and a yield of 11.12%. Algonquin Power & Utilities’s dividend payout ratio is currently -644.44%.

Algonquin Power & Utilities Company Profile

(Get Free Report)

Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services.

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Earnings History and Estimates for Algonquin Power & Utilities (TSE:AQN)

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